AXT Inc ( (AXTI) ) has released its Q4 earnings. Here is a breakdown of the information AXT Inc presented to its investors.
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AXT, Inc., a leading manufacturer of compound semiconductor wafer substrates, specializes in high-performance materials like indium phosphide, gallium arsenide, and germanium, which are used in industries such as 5G infrastructure and data center connectivity.
AXT, Inc. reported a strong financial performance for the fourth quarter and fiscal year 2024, with a notable 31% increase in revenue year over year. The company has made significant strides in advancing the technical specifications of its materials, enhancing its market presence in the cloud, data center infrastructure, and cell phone markets.
Key financial highlights include a fourth-quarter revenue of $25.1 million, up from $20.4 million in the same quarter of 2023, and an annual revenue of $99.4 million compared to $75.8 million in 2023. Despite these gains, AXT reported a GAAP net loss of $5.1 million for the fourth quarter, with a non-GAAP net loss of $4.3 million, reflecting the challenges faced in maintaining profitability amid expansion efforts.
Looking forward, AXT remains optimistic about capitalizing on the rapidly growing market opportunities. The company continues to advance its STAR Market IPO process for its subsidiary, Beijing Tongmei Xtal Technology Co., Ltd., which is expected to enhance AXT’s presence in global markets, pending regulatory approvals.
